Copublished with Copublished by the Centre for Environmental Law and Community Rights (CELCOR, Papua New Guinea), Asian People’s Movement on Debt and Development (APMDD), BankTrack, Japan Center for a Sustainable Environment and Society (JACSES), Jubilee Australia, Market Forces, Reclaim Finance, Solutions for Our Climate (SFOC) and Urgewald.
A group of civil society organizations has sent a letter to 50 investors – including Amundi (Crédit Agricole group), Blackrock, Norges Bank Investment Management, Union Investment – that hold shares in the four owners of the Papua LNG project (TotalEnergies, ExxonMobil, Santos and ENEOS Xplora Inc). The organizations raise the alarm about the potential impacts of the Papua LNG project, operated by TotalEnergies, on climate, the rights of Indigenous peoples and biodiversity.
In their letter, they call on the 50 investors to:
- engage with the four companies to stop developing the Papua LNG project and other new fossil fuel projects all over the world,
- vote against re-elections of directors, remuneration and financial statements at the annual general meetings, to clearly oppose fossil fuel expansion plans,
- stop buying new bonds from these companies, in order to halt providing fresh capital that can be used to fund climate-wrecking projects.
- publicly define a time-bound escalation strategy for the four companies, with a complete divestment from shares and bonds as the last step of this strategy if the companies continue to develop new fossil fuel projects.
